Morning journal and courier., 1887-09-08
THE R. s. WHEELER SUSPENSION.

of Secretary Galp1n, of
 the Wire Mfn Company as Tempo.
 rary Receiver Of that COmpany-Ta1k
 About Town-The Wire mill Shut
 Down Yesterday Mernfng-Only For
 Two or Three Days However.
 MT. s. A. Galpin was yesterday appointed temporary receiver for the New Haven Wire Mill company's business. The petition for the appointment of a receiver was heard by Judge Sanford of the Superior court, at his residence. It was signed by Edwin $. Wheeler, Samuel A. Galpin and ex-Alder- man Benjamin E. Brown, who own the ma jority of the company's stock. The petition represented that the majority of the stock holders had voted to wind up the affairs of the concern and asked that MT. Galpin be appointed receiver. At the hearing the pe- titioners were unrepresented by counsel.
 There being no opposition to the petition MT. Galpin was appointed temporary re- ceiver.
 The hearing upon the appointment of a temporary receiver cannot take place before the first Friday of next month, October 4th, the court not being in session until then. Receiver Galpin is also assignee of E. 5. Wheeler & Go. His first duties as receiver will be to ascertain the value of the property and assets of the concern in whatever form. He knew of no reason why the wire mill could not be kept running right along after short interval, the same as it has been doing. Pending the appointment of a receiver the wire mill shut down yesterday morning. Considerable excitement prevailed at the mill among the workmen on finding the mill closed and rumors prevailed that the shut down was to be permanent Such an event would be @ disaster to Fair Haven, there being four hundred hands employed at the mill and representing with their families a proportion of about 1,200 persons residing mostly in Fair Haven. It was learned last evening automatically that the shut down will continue for two or three days only, or until MT. Galpin as receiver can take the necessary inventory of the property of the concern.
 But little new as to the status of the con- cern can be learned until the hearing takes place next Tuesday, September 18th, when the hearing takes place regarding the ap- pointment of trustee of the E. s. Wheeler concern. MT. Galpin, accompanied by Attorney H. 0. White, had an interview with Judge Robertson of the Probate court yesterday relative to his selection as trustee position he would not accept unless per- fectly satisfactory to the creditors. Judge Robertson told him to come at the hearing next Tuesday prepared to qualify in the event of his being accepted.
 H1f h. D. w Aoc1oE Dc1lIS 4A4A1ACA O1 co NO the amount of business and accommodation paper of the concern now out, said that it was impossible to determine the amount at present, and that affairs had reached such stage that the disclosure of the liabilities and assets would have to be reserved for the hearing on the appointment of trustee next Tuesday. As MT. Wheeler was replying telephone was calling him, two gentlemen were waiting to converse with him on urgent business, friend stepped in to proffer his friendly offices and sympathy, and a pile of telegrams lay claiming his immediate atten- tion. Mir. Wheeler, it need not be said, is a very busy man at present. Owing to the complexity of his business affairs and the distribution of his business in so mauy di- rections, MT. Wheeler has received from scores of our leading citizens the sincerest expressions of their friendship for him and the hope that his house may rally out of it's endorsements. his enterprise and ability, has been of great benefit to this city and cannot well be spared from our midst. While speaking on this point various leading citizens yesterday ex- pressed condemnation of the journal, which rushes into print with startling statements and wild stories which have no foundation, except unverifed rumors and reports. The failure may turn out badly enough but we do not want to paint it darker than it is, nor publish things which throw discredit upon New Haven. We don't want to give out false stories which would indicate that every thing is going to smash. MT. Welch himself had said that, judging of the case from his knowledge of it, be thought with exten- sion of time the firm could go on as hereto fore. It is plainly and clear Iy to New Haven's interest that this very desirable result be attained. 1.-the affair turns out worse than it looks it will be a matter of genuine regret all over town. The above is a specimen of talk about town yes terdsy.
 Several banking men of this city of prom thence who were interviewed yesterday said there were no new developments which could be stated, but were disposed to regard the failure as likely to prove a bad one as far as New Haven was concerned. Much depended of course on the value of the firms paper held by the banks and which fortunately was generally considered good. Of course until the facts are known uncertainty must pre- vail, but undoubtedly much of the paper is good and in any event if there is loss it will be so distributed as to cause no trouble here.
 The Registers statement that Judge Bly, has been retained as attorney in the case is erroneous.